5 Common Mistakes New Entrepreneurs Make (And How to Avoid Them)

Starting a new business can be an exciting but challenging experience. As a new entrepreneur, it's essential to be aware of the common mistakes that can hinder your success. By understanding these mistakes and taking steps to avoid them, you can set your business up for success and achieve your goals.

Mistake #1: Lack of Planning

One of the most significant mistakes new entrepreneurs make is failing to create a comprehensive business plan. A business plan outlines your business's mission, goals, target market, financial projections, and marketing strategy. Without a plan, you may struggle to make informed decisions and stay on track.

• Solution: Create a detailed business plan that outlines your business's goals, target market, financial projections, and marketing strategy. Review and update your plan regularly to ensure you're on track. For more information on creating a business plan, visit the Canada Business Network's website: canadabusiness.ca.

Mistake #2: Insufficient Funding

Many new businesses fail due to insufficient funding. Starting a business can be costly, and it's essential to have a solid financial plan in place.

• Solution: Determine your startup costs and create a financial plan that outlines your funding needs. Consider seeking funding from investors, loans, or grants. The Business Development Bank of Canada (BDC) offers financing options and resources for entrepreneurs: bdc.ca.

Mistake #3: Poor Time Management

As a new entrepreneur, you'll wear many hats, from CEO to marketing manager to accountant. Poor time management can lead to burnout and decreased productivity.

• Solution: Prioritize your tasks, focus on high-leverage activities, and delegate tasks when possible. Use time-tracking tools like Toggl or Harvest to stay organized and on track.

Mistake #4: Inadequate Marketing

Many new businesses struggle to attract customers due to inadequate marketing. A solid marketing strategy is essential to reaching your target audience and driving sales.

• Solution: Develop a marketing strategy that outlines your target audience, marketing channels, and budget. Use social media, content marketing, and other tactics to reach your target audience. Consider taking online courses or attending workshops to improve your marketing skills.

Mistake #5: Failure to Adapt

The business landscape is constantly changing, and new entrepreneurs must be adaptable to succeed. Failure to adapt to changes in the market, industry, or economy can lead to stagnation and decline.

• Solution: Stay up-to-date with industry trends, monitor your competition, and be willing to pivot your business strategy if necessary. Attend industry events, read industry publications, and join online forums to stay informed.

Conclusion

Starting a new business can be challenging, but by avoiding common mistakes, you can set yourself up for success. By creating a comprehensive business plan, securing sufficient funding, managing your time effectively, developing a solid marketing strategy, and adapting to changes, you can build a thriving business that achieves your goals.

Take the first step towards building a successful business today. Download our free business plan template and start creating your roadmap to success. For more resources and support, visit our website or contact us to learn more about our business services.

The Importance of Market Research

Most entrepreneurs are inexperienced and ignorant to the discourse of business when they first embark on the journey of managing a company.  It’s not a bad thing, but it is a fact worth acknowledging. That being said, a vast majority of starting a business is education and in many instances, that education is informal and self taught. One of the greatest challenges of an independent business education is the experimental learning of trial and error.  Some aspects of business will only make sense once you’ve tried it a few times and realize what is missing. Other aspects will come quickly and immediately and will pose no further threat to your business.

The pedagogical journey of entrepreneurship consists of a series of fundamental factors that should be considered and practiced for any serious contention for a successful business. One of these factors is market research; how well will your product or service perform in the market? Often overlooked due to costs, time, and significance, market research can make or break any business idea.  We want your business venture to start off in a way that will encourage growth. As such, we’ve outlined our top three reasons why market research should be on your priority list.

Market research reaffirms your business idea

When you have a concept or idea and you wish to convert it into a product or service, market research helps you understand who your target audience is, whether there is indeed a demand or interest in your product, and ultimately your business’ success potential. For example, if you anticipate your target audience to be young adults between the ages of 18 and 27, but upon reviewing the data from your surveys and focus groups you notice that middle-aged persons express a greater benefit from the product, you may need to redesign your business model taking into account middle-aged individuals.  On the other hand, you might also find that there is absolutely no interest whatsoever and your investment may not be worth it. Market research is simply a strong editing tool that can refine your business to properly meet the needs of your consumers.

Knowing your numbers

Numbers are vital to a business. How much will you pay? How much will your consumers pay?  Are you competitive enough? Market research assists in money management. If you understand who your ideal consumer is, you can further assess how much they are willing to pay for your product. Additionally, it will gauge how much money you need to invest to obtain a beneficial return. Research will highlight the monetary relationship between the business and the consumer. If your intended audience is women, but they are from low-income brackets, you must consider the likelihood that they will impact your business financially, particularly in a way that will encourage steady growth. 

Further, market research, in the form of business-to-business comparison, can help you determine whether your prices are too high or too low and how competitive you will be among your entrepreneurial peers. This research can often be obtained by simple web searches and do not require much time. It is an easy way to gain some perspective on your business.

 Business and Market Predictability

Market research can reveal how your business will perform in its initial stages as well as the future. Granted, there are a myriad of factors that can cause predictions to deviate, it is still a reliable tool for estimates on what to expect. The research can guide contingency plans and business projections.

Whether you decide to limit your research to the web or other minimal resources or you choose to spend thousands of dollars in quantitative and qualitative data collection, market research will have a positive effective on your entrepreneurial pursuits. 

A Few Pointers on Mentorship

As a society, we are in the midst of a demographic transition: namely, experienced and knowledgeable baby boomers are either retiring or considering retirement, while ambitious, talented millennials and gen-Yers are rising through the ranks. To truly capitalize upon this generational shift, we need to ensure that the most valuable nuggets of wisdom transfer effectively from older workers and leaders to the junior cohort.

If your business is a relatively new start-up, your workforce is likely young. But even young workers rapidly develop skills, experience, and insider knowledge from which more recent hires can benefit. Opportunities for “teaching the teacher” may also arise, if the protégé is more conversant with a specific technique or tool than the mentor happens to be. (Consider the social media savvy of the average millennial versus that of the average baby boomer, for example.)

Start with a plan.

Before you implement a mentorship program at your business, start with a set of realistic objectives, and establish ways to accomplish them. You also need an approximate timeline. How much coaching do new hires require, and how much time per week should you allocate for that purpose? Could some new entrants use more help than others? At what point is it appropriate to phase out a mentorship stint and allow protégés to do their own thing?

Criteria and measures of the success of mentorship efforts are indispensable. What skills or expertise do mentors have, that you would like protégés to attain? Why?

Bring your entire organization on board at the outset.

Gather employees and managers together for a preliminary brainstorming session. Chances are, front-line staff will know what attributes are needed to ensure success, and their counsel will be valuable when it comes to setting appropriate and attainable goals. Make sure everyone in your organization knows about the mentorship initiative, understands what her role will be, and has an opportunity to provide input and feedback at all times. (You may want to delegate a point-of-contact person or set up a committee for this purpose.)

Targets and coaching strategies may evolve over the course of the mentorship process, so allow some scope for flexibility and adjustments to the plan. But keep the big picture in mind: the primary objective of mentorship is to ensure the long-term continuity and success of the organization.

Finally, create survey documents for both mentors and protégés that include the essential measures of success you established in the brainstorming session. These surveys will enable you to aggregate data, track overall progress, and gain valuable insight into the effectiveness of the mentorship initiative.

Prioritize relationships.

A constructive working relationship must exist between mentors and protégés; without this, the prospects for meaningful progress are slim. Some mentors and protégés will develop a productive and amicable rapport almost instantly, others will need a bit more time, and occasionally, pairings may not work out. Use your discretion, keep an eye on the status of each mentor-protégé pairing, and welcome feedback. Consult your survey results for macro-level guidance.

Regular progress assessments

Meet briefly with each mentor and protégé pairing on a regular basis (if feasible). Ask them personally how they feel the process is unfolding, and provide a forum for discussion.

Over the course of the mentorship program, you should perceive that mentors and protégés are increasingly on the same page; this should be apparent to you in both the in-person meetings and in the survey results and feedback. If not, then you’ll need to modify your mentorship initiative, seeking input from your workforce on where improvements can be made.

Concerns over “brain drain”

Some managers worry mentorship brings a risk that highly trained employees will leave the organization for opportunities elsewhere, taking their newfound knowledge and skill set with them. This is analogous to the dilemma countries face when deciding whether to invest in educating their children: what if our most dextrous, astute citizens pack up and leave, causing a “brain drain”? Won’t those resources have been wasted?

Consider the matter from another perspective: if you don’t mentor new employees, how will they garner the technical and logistical proficiency they need in order to enhance the future prospects of your business?

Ultimately, it’s the responsibility of all businesses to provide a desirable place to work. If you do, then highly skilled employees will flock toward, rather than away from, your enterprise. Incidentally, one of the assets job seekers desire most in a would-be employer is the potential for professional growth and career advancement—and mentorship can help to provide that.

Confronting Workplace Bullies

Bullying in professional settings is a problem most managers would rather not have to face. Sadly, however, it is quite prevalent. At some point in your career, you will almost certainly come across a workplace bully, a subordinate who claims to have been harried by an employer or supervisor, or a person who is either directly or indirectly affected by workplace bullying.

Tormentors of all ages tend to share some common characteristics. One is a propensity to target individuals whom the bully considers weaker or less fortunate than h/erself. Another is the compensatory impulse: compulsive browbeaters often suffer from insecurity and a lack of self-esteem, which they try to repress by taking out their frustrations on others—especially those not in a position to defend themselves.

Recently, a team manager told me that a worker at her institution had complained to her about bullying by a superior. While the manager said she believed the allegations were true, she also worried that the problem would be challenging to resolve. Confronting someone over the kind of misbehaviour that most people associate with grade school can be awkward, and requires considerable courage on the part of an organizational leader.

While there are no magic-bullet fixes, the following pointers may help:

Trust your intuition.

Adults who have been targeted by bullies are generally reluctant to admit to themselves that bullying has truly taken place. This is partly because the line between innocent teasing and bullying is ambiguous—and from an employee’s point of view, there are strong disincentives against reporting undesirable behaviour by superiors or co-workers. What if your boss sides with the bully? What if it’s your word against h/ers? In particular, young employees are usually loath to upset the apple cart, lest they risk compromising their budding careers.

The first prerequisite for solving any problem is to acknowledge that it exists. This holds true both for people subjected to bullying, and managers of business environments in which bullying happens. If you suspect that bullying is a problem in your workplace...it probably is.

Leaders: stop malicious rumours.

Bullying among adults tends to be more subtle and insidious than bullying among children or teens, since many adult bullies aim to maintain plausible deniability. One of the common forms that adult bullying takes is the malicious rumour. As a leader, you have both a responsibility and a great deal of power when it comes to stopping mean-spirited gossip in your organization. Make it plain to everyone that there is no place for behind-the-back innuendo in the professional atmosphere you hope to foster.

Keep records.

If you are a target of bullying, take note of the micro-aggressions. These may include untoward e-mails, social media comments, memos, or text messages. Carry a notepad and pen at all times (discreetly), or record information on your smartphone. If you find yourself in a situation in which another individual or group tries to belittle you, take a moment to write down the name of the perpetrator(s), the nature of the maltreatment, and any witnesses. Written records and witness testimony will prove beneficial if the need to file an official complaint arises.

Establish an anti-bullying policy for your organization.

First, all members of your organization must have a basic understanding of what constitutes appropriate and inappropriate behaviour in the workplace. This may require you to set some ground rules.

A well formulated anti-bullying policy should outline a coherent process for dealing with the issue. In particular, there must be a clear and consistent definition of bullying—including abusive language, shouting, unfair or unwarranted criticism, and deliberate ostracism of an individual. Further, employees and other potential targets of bullies must know how and where to submit complaints, and feel confident that they will face no recriminations for doing so in good faith. This may require anonymity.

Finally, there must be consequences for perpetrators, including disciplinary action and, in serious or repeat-offender cases, suspension or dismissal. If those who have been bullied believe their tormentor will face no real repercussions, or that their complaint won’t be taken seriously, they may abstain from the process, or even resign from their position.

Although it may be a challenge to confront workplace bullying, it is crucial to do so promptly, professionally, and effectively.

The Keys to Effective Internal Communication

Take a moment to browse online job postings, and you will see the same item listed recurrently under “Qualifications”: namely, effective communication skills. As important as this capacity is for

prospective employees, it is even more vital for businesses of every size. This obtains both for interactions with external stakeholders, and within an organization. No team, regardless of the talent and expertise of its personnel, can expect to achieve its potential unless information transfers seamlessly and comprehensibly among its members.

Although many of the requirements of functional internal communication are common sense, you may find the following guidelines useful:

•  Invoke the KISS principle.

 

When you initiate communication, take a moment to consider whether the information you intend to convey is presented in the simplest, most concise, most unambiguous form possible. Is there any room for misunderstanding or misinterpretation? “Keep it simple and specific” is a useful guideline here. Concision is also advantageous in most situations.

•  Accuracy is indispensable.

Double-check e-mails and other documents before you distribute them. If you have doubts about any aspect of the material, seek confirmation either by doing research on your own, or by consulting a colleague. Accuracy is paramount for effectiveness in communication, for two reasons: first, because inaccuracy can compound into missteps and delays that cost time and money; and second, because repeated errors on your part may erode the trust that others place in you. It is generally worthwhile to take a bit of time to ensure accuracy now, rather than spend a lot of time trying to correct mistakes (and repair any damage to your reputation) later.

•  Maintain records of important instructions and agreements. Communicate in both verbal and written form.

Even if you’re confident that you understand what you’ve been told, or believe you’ve made yourself perfectly clear, it is important to make use of documentation rather than simply rely on memory. If, as an employer, you have to convey complex instructions to an employee that involve multiple steps, write them down in clear, succinct language. (Recall the “KISS” principle.) The same advice applies to employees who need to communicate information up the chain of command.

•  Keep communications relevant to the recipient.

The human brain has a remarkable capacity to “zone out”, discounting intelligence it deems irrelevant. This is an adaptive evolutionary trait; for our distant ancestors, the ability to identify crucial facts, and save mental energy by omitting unimportant or superfluous ones, was a prerequisite for survival. However, in our modern civilization, this immanent skill can occasionally backfire; by skimming a lengthy document in order to save time, for instance, we risk overlooking information that is relevant to us.

One of the ways for managers to avoid this pitfall is by tailoring communications to each recipient, with specific details or instructions. This practice also sends a tacit signal that employers acknowledge and appreciate the unique contribution of every individual.

•  Who reports to whom?

All staff should know exactly to whom they are accountable, and for whom they are responsible. As the scale of a company or organization increases, this factor becomes all the more necessary. It is axiomatic that communication should occur through the proper channels, but what are the proper channels? Aim to ensure that everyone who works in your business can answer that question without a moment’s doubt or hesitation.

•  Details matter. But never lose sight of the big picture.

Every business should have a mission statement, which is not only clear and accessible, but understood by all staff at the organization. Once every member of a team buys into a common goal, you will have laid the groundwork for collective success.

The Pros and Cons of Friendships at Work

Employers who aim to improve the loyalty, efficiency, and engagement of their workforce would do well to focus on employee morale. And one of the surest ways to improve morale is to encourage camaraderie/friendship in the workplace.

When employees care about each other, they are more likely to become invested in each others’ success, communicate readily and openly, and cooperate on major projects in a way that capitalizes on their comparative advantages. (For example, “You’re better at writing, and I’m more conversational. So I’ll field phone calls while you take care of e-mails.”) Workers who have developed friendships on the job are also more likely to remain with the company, even if the work itself becomes less appealing. Finally, a reputation for camaraderie and positive employee morale may also enhance your company’s prospects for recruiting top talent.

With all of that in mind, here are some ways to encourage camaraderie in the workplace:

•  Participation in community service/volunteer events. Set aside some time for employees to volunteer for a charity or non-profit organization, and allow them to choose the organization. Or you could sponsor and take part in a public event on behalf of worthy cause, like the local Terry Fox Run, or a Pride parade.

•  Team-building exercises. Though they may seem clichéd, team-building exercises can be effective in helping employees develop a “we’re in this together” mentality. Well known examples include the mine field (leading a blindfolded person through an obstacle course) and the trust lean (catching a person as s/he falls backward). Some companies have even tried sheep-herding and scavenger hunts. In any event, remember that the purpose of the activity is to foster trust and a willingness to cooperate within the group, rather than competition between individuals. Choose accordingly.

•  Empathize. Make an effort to be consistently respectful, amicable, and professional toward employees, colleagues, and clients. Practice empathy and compassion. Take the needs and concerns of your employees seriously, and take individual preferences, personality types, and working styles into account in your personnel decisions. With respect to the type of workplace atmosphere you hope to instill, be proactive and set an example.

•  Keep an eye out for potential conflicts. It is axiomatic that some people simply don’t get along well with each other. Watch out for personality conflicts that you sense may become problematic, and trust your instincts. Where possible, try to match or group people you believe will work well together. If you find that one individual in particular doesn’t seem to collaborate effectively with anyone, you may need to take that person aside to address a specific issue, or even consider letting her go.

The downsides

As the title of this post suggests, the effects of camaraderie in a professional setting are not all rosy. Possible disadvantages include ruptured friendships if one friend departs and the other remains, and more time spent socializing (which may detract from productivity). In certain cases, friendships at work can lead to the formation of cliques and even divided loyalties—consequences that you’ll need to watch out for. As a manager or business owner, you’ll also need to remain cognizant of the line between friendliness toward your employees and friendship with them. While it’s possible to be friendly toward someone while maintaining an air of professionalism, it can be very difficult to reconcile the obligations of management with the responsibilities and commitments of friendship.

In most cases, though, the positive effects of workplace camaraderie far outweigh these potential difficulties, and the challenge of maintaining an affable but professional workplace atmosphere is manageable.

Slow Hire, Quick Fire

Anyone in charge of his or her own business who is not familiar with the term ‘slow hire, quick fire’ needs to let it sink in right away. On the surface it seems rather self-explanatory and just good common sense, but internalizing the mechanisms behind why this practice is so fundamentally important can often be overlooked. Below are a few key points to focus on when you may be forced to pull the trigger on any major personnel decision as well as a brief examination behind the rationale for each practice.

The Slow Hire

Every hiring decision is an investment. The idea needs to be that the return from their productivity exceeds the outlay to keep them on board – there is no point hiring someone who doesn’t make your company more valuable than it already is. Like a poker player sitting at the table, there is the old adage that you cannot lose what you don’t put in the middle. Hiring someone should feel like putting chips in the middle knowing that you can take down the hand. If you’re bluffing and praying for your card to land on the river you’ll find yourself short-stacked in no time.

Here are some points to consider before hiring:

1) Don’t let yourself feel pressured by time – A savvy manager will see the need coming down the road long before there is any urgency to actually hire someone. If you’re hiring someone just because you need someone right away there’s a strong possibility you’re not hiring the right fit for the position, but someone who is comfortable being the company silver medal.

2) If it doesn’t feel right, it probably isn’t – It can sometimes feel like the only option available is hiring the least bad candidate. There is nothing wrong with holding out for something better. The right person is out there, and sometimes it’s just a matter of possessing enough resolve to wait it out until they come along.

3) Can someone become the right candidate? – Sometimes you might find yourself with candidates that don’t immediately possess the needed expertise or experience required to fill a position, but may possess certain intangibles, such as the right drive and motivation that can make them an asset to your company. Always keep in mind that it’s easier to train someone how to complete a particular task than it is to train him or her to care about what they’re doing.

The Quick Fire

If someone is dead weight, they’ve got to go. It’s fine to be patient with someone who is still developing the requisite competencies to do their job, but if someone doesn’t have the right attitude, or fails to demonstrate the proper level of motivation that you demand from your employees, don’t wait around hoping they will change. There are plenty of eager people who don’t need to constantly have carrots dangled in front of them who would probably do a great job if given the chance.

Here are some points to consider before firing:

1) Is it even a job that still needs doing? – It’s not uncommon for employees, brought on to complete a particular task, to hang around long after they’ve become redundant. It’s never easy, but explaining that their services are no longer required can sometimes make long-term sense and might be in the best interest of your company.

2) Are they spinning their wheels? – The guy who comes to work every day, does nothing, and collects his pay just the same as the guy who works his butt off, is an all too common occurrence in many work environments. It’s one thing to streamline one’s workflow to optimize productivity allowing for more free time, it’s another to create free time at the expense of productivity. And as great as it is to come to work feeling relaxed, it’s a wholly other thing to show up at work in order to relax.

3) Are they a vampire? – Sometimes what can hurt a company has little to do with the specific competencies of its respective employees and can come down to a single employee’s bad attitude. Nothing can be more damaging to team morale than one person putting his or herself ahead of everyone else. There is no place for someone who sucks the life out of your company.

Etiquette in the Virtual Office Environment

The office is a constantly evolving environment. In fact, the tech boom has given rise to a brand new work environment unlike the world has ever seen. Globalization and the internet have transformed the way we do business, altering the landscape and changing the way workers, united under the banner of a common vocational purpose, interact and see a project to completion.

Online office environments, like oDesk and Elance, have become an increasingly common way to infuse expertise into small businesses by outsourcing skills and aspects of a project that may not fall within the core competencies of its key constituents. In fact, it is now possible to see a project from acorn to oak by building a workforce of contractors from around the world operating in a virtual office environment which tracks their time and progress.

Operating through the soft barrier and anonymity that is the internet, it’s easier than ever to be detached from some of the more mundane aspects of the job. In their infancy, virtual office environments were a breeding ground for employers looking to get something for nothing by offering the promise of work to desperate contractors. Thankfully, the market has found a way to regulate itself and, though the problem does still persist, it is no longer the norm. Employers will be keen to protect themselves from contractors looking to make a quick buck and leaving them in the lurch with poorly executed, or incomplete, work. On the other hand, most contractors will be inclined to protect themselves, and usually only want to be compensated fairly for their time and their expertise. It’s important to remember that there is an element of give and take that is essential to making the relationship function optimally.  

As tempting as it might be for an employer to contract the data entry services of someone working for $1 per hour in a distant country, there’s no guarantee that what is needed will be communicated effectively or that the work will be done correctly. One might even be persuaded to convince several prospective contractors to complete samples in order to prove that they are capable of completing the work and then running off with the aggregate without compensating a single contractor for their work.

When dealing with any contractor in an online environment the key is to first give them the benefit of the doubt. Knowing that they are capable of what they say they are is important and most will be able to provide a track record of successfully completed work. Inherent in the system of most E-offices is a feedback system and, although abuses are not unheard of, there is also some legitimacy to them and should be another factor to consider before making a hire. Lastly, reach out – a virtual office relationship is still a relationship and a quick Skype call can go a long way to establishing trust between contractor and employer. Employers demonstrate that they are the real deal, with honest money to pay for an honest service, and this informal interview process is usually enough to unveil the wizard behind the curtain.

No matter who you hire for what service, keeping the lines of communication open is essential and a “set it and forget it” mentality is never a recommended approach. As your business grows, so will your relationships and it’s important to nurture them and keep in mind that sacrificing some early returns can, with the right amount of patience, generate greater stability over the long haul. 

How to Hire Employees

Being exhausted from working around the clock driving your business forward can actually be a good thing. Despite the bags under your eyes, the gravelly voice, and potential spontaneous hair loss, all that stress can serve as a signal that your business has advanced to the point where it’s time to hire some help. As tempting as it can be to continue to assume all the responsibility for your company and reap all the financial benefits as well, it may actually be more profitable in the long term to surrender some of the immediate dividends and take back some of your days.

There are two basic paths to take when hiring someone:

The first, and most obvious is to hire an assistant. Any business has mundane components, or a series of tedious small jobs, that are seemingly unrelated to the main focus of the company. They include everything from answering telephones, sending out emails, filing, billing, laundry, getting coffee, etc. When hiring someone to handle all the jobs you don’t want to do, the goal is often to find someone who’s driven, pays attention to detail, doesn’t sleep, and is willing to work for less than they’re worth.

This method of hiring, especially at such an early stage in the growth of your company, is akin to exploitation and will further limit the growth of your company. The types of people who will end up working for you are those that simply need a job. The kind of employee you should be looking for is one who wants to work for you, not one who is putting themselves in a position of indentured servitude. The reason for the drawbacks with this method of hiring is due to the fact that it means that all the jobs in the company are accounted for. It might be effective to get by on a day-to-day basis, but a ceiling is reached the minute your employee becomes truly effective at their job. The net result will be a former employee who uses their experience at your company as a means to get a job that’s more meaningful to them.

The second method to hiring is to find a partner. Anyone who has seen Derek Sivers’ riveting TED talk from 2010 about how to start a movement knows that as the leader you’ll get all the credit, but the true catalyst to starting a movement is the involvement and commitment of your first followers. As Sivers points out, it’s important to embrace your first few followers, or employees in this case, as equals. When things began, you may have been the very embodiment of the company, but by embracing your first employees as equals, the focus now becomes the company and not the individual roles that are being filled within it. Suddenly, instead of all the jobs in the company being accounted for by you and your various assistants, new jobs are being born through the cooperation and vision of your close circle of followers.

So what is the key to finding a great partner?

The real trick to finding a great partner is to position oneself within reach of people that are like you, but with complimentary skills. For example, an audio professional might want to align themselves with an expert in film and video where suddenly you have a production company capable of offering an array of services instead of focusing on just one. It’s also important that they be at the same relative stage in their career so that you can both grow together without one feeling like they are dragging the other. And finally, your partners should hold the same core values when it comes to what they feel is important for the company to thrive – citing artistic differences as the cause of the destruction of a promising union has almost become cliché.

The very last thing to consider is how you attract the right people to your business. It’s important, regardless of the channels you use to draw attention to your company, that in the job description it clearly indicates that candidates will be immediately positioned at the same level, and be performing the same duties, as the founder of the company. Be forthright about your own abilities, your goals, and your expectations and make it clear to the people you decide to interview that their involvement in the company represents an opportunity to be a part of something that has the potential for real growth.

The net effect of this second strategy is not only having a willing partner who will help lighten the load in the short term, but also a friend who will take ownership of their role and nurture the company with the same care as you in the long term. 

Losing a Valuable Employee

What happens when a valuable employee resigns? First, don't panic.

After all, how many times have you moved from job to job? This is not an uncommon occurrence. Now that you're the boss you can't just throw a going away party and wish that person well.

There are certain steps you need to go through to make sure this is a smooth transition and everyone is on the same page.

Step 1: The Exit Interview

There should be no hard feelings when an employee resigns, especially if they are moving on to a different opportunity or opting to spend more time with their family. Just as you would with a client or vendor, you don't want to burn a bridge with a good employee. Who knows where they will land or if you might need them to consult for your company. If it is a situation where you know a competitor has made them an offer they can't refuse (and you can't match) let them know you appreciate their work.

Step 2: Recall the Non-disclosure Agreement

Hopefully, every employee working for your company signed a non-disclosure agreement before starting work. As they are leaving, it is a good time to remind them of their obligations under this contract. Technically, if they signed the agreement you don't have to remind them because it is legally binding. Just make sure they have a copy before they head out.

Step 3: Let the Company Know

When a valuable member of your team has decided to move on it won't be a secret for long. You still want to get out in front of the news by making some sort of official statement to the rest of the company either in an email, memo or announcement. Hopefully, there will be an opportunity for your former employee to train the new hire. You can also have that going away party to allow everyone a moment of closure. Then it's back to business.

Step 4: Ask For a Written Duty Log

The employee who is leaving might have taken on tasks you're not even aware of. It will be a big help if they were to write down all of their tasks and responsibilities. This is a document they can hand off to the person taking their place. This log should include all the usernames, passwords, email accounts and other company online access issues. This is another reason why you don't want to make this resignation awkward: You still need that employee's help!

Step 5: Call Up a Recruiter

You should know exactly how much time you have to fill the position. This doesn't mean you need to rush to find that new person. Put a recruiter to work to find the best candidate. Perhaps your old employee might even have a recommendation. If they aren't moving to another job, you can also leave the door open for future freelance work.

No matter how important this person was to your business, it's not the end of the world when they leave. You'll press on and might just find that a new member of the team is just the shot in the arm your company needs to take it to the next level. 

Social Media and the Law

Does your company need a lawyer every time you post on Facebook? Obviously not if it is your personal page.

However, when you dive into social media to promote your business you would be well advised to speak with a social media law specialist to keep an eye on what you post. Look at it this way, when a company creates an ad that makes certain claims about their product, that ad has to go through a strict legal review to protect the interests of that company.

This is the same approach you should be taking when you begin engaging customers through social media. In other words, get protected before you post. Here are some areas to think about with regard to social media and the law.

Do you have an action plan?

On many levels, you can gauge a successful social media campaign by the amount of followers or "likes" you achieve. Yet when you drill down, an effective social media campaign is much more than a numbers game.

Before you meet with a lawyer, you'll want to put together your company's action plan. This can come in the form of a prepared background document. Included in this document should be the supporting data for the following:

• Current social media uses
• Lists of various social media platforms being utilized
• Type of material being shared (blogs, videos, Tweets, photos, etc.)
• Staff members responsible for generating social media content
• Any company policies regarding posting
• A review of competitors’ social media campaigns
• Guidelines for employees posting on behalf of the company such as language/photo use

All of these issues pertain to a certain level of risk management with regard to employee interaction. Without guidelines you could find yourself dealing with inappropriate posts that could cause great harm to your brand.

Do your employees know what they can or cannot post?

It's hard to imagine a company getting through the course of business without creating a "disgruntled" employee. Usually, these are the folks who are dismissed because of poor work performance and go on to vent their frustrations. These types of comments can be managed but what about posts from current employees that could be a problem? Make sure that your employees understand that company secrets or making fun of a customer are not something that should be done on social media.

All of these types of postings need to be explored with your legal representative in order to form a comprehensive set of rules for your staff. It is much better to work through all the possible scenarios as opposed to doing damage control. 

5 Steps to Hiring Inexperienced Candidates

There is a first time for everything. That includes hiring someone to do a job.

If you're lucky, you can find an employee who is well versed with whatever type of task you want them to perform. However, there is often the opportunity to hire an exceptional employee who doesn't have any experience related to your business.

But is it crazy to hire someone without experience?

You might discover that training a new employee from "the ground up" is the best way to get what you want out of that worker. In other words, they're not going to be approaching the job with any bad habits or preconceptions. They are a blank slate. And that can certainly work to your advantage.

Here are five steps to consider when hiring an employee without relevant experience:

Spell out what is expected.

Depending on the job, there might be a training manual or "to do list" approach to the job. This should spell out specifically what is required of that employee. If you need to, create a guide for an employee. It's always better to travel with a map as opposed to just a destination.

Enhance the skillsets.

There is a reason that you're considering hiring a person without experience. They've impressed you with their attitude, prior successes and possibly related skillsets. It has often been said that a good sales person can sell anything. Just because you're selling cars, but are hiring a top vacuum cleaner sales person, doesn't mean you won't come out on top. Play to that person's strengths and build on that.

Consider their complete resume.

Someone without a lot of experience on their resume could have other areas where they have excelled. These unique experiences can indicate how they'll perform on your team. For instance, a person who has spent a lot of time doing charity work could be a natural fit for customer service. Someone who was in the military will understand how to follow orders and have discipline. When it comes to resumes, go deep!

Put them to the test.

Captain Kirk was famous for reprogramming a "no-win" scenario test. He got a commendation for original thinking. You should try to find a way to put your prospective hire to the same kind of test. This doesn't mean building a starship simulator, but you can probably come up with a challenging test to see how they might problem solve. The best result would have them asking for help instead of trying to do something on their own and failing.

Put them on probation.

You're taking a risk by hiring a new employee without experience. They should know that up front. There is nothing wrong with putting that employee on a probationary period. Just don't make it a double-secret probation. They should know they are being watched and their job is on the line. 

What Customers Want... But Won't Tell You

We all know the "customer is always right." But did you also know that the "customer is always lying?" Maybe not so much as lying as not telling you what they're really thinking. Yes, you can put out the occasional survey to get impressions of your business but by then it might be too late to fix things.

What a customer won't tell you might end up hurting your business especially if it is keeping that customer from coming back for repeat business. Here are five things that customers wants but won't tell you up front.

They want your staff to look good.

This doesn't mean you have to hire runway models as your sales staff. However, appearances do matter. How your employees dress and groom themselves sets the tone for your business. If you're running a sports bar then tattoos, piercings and wild hair will fit right in. However, if you're selling carpet you don't want a motley crew being the face of your business. Set the dress code that is appropriate for your business and make your new hires aware of those codes before they agree to the job.

They want to matter.

When a customer walks into a store they should be greeted by a friendly staff member and asked, "How can I help you?" This lets them know that their business is appreciated. That same kind of relationship can be built through an online store. If a customer sends an email query, try to answer that right away. Hopefully, it will be a personal answer. Whenever possible, provide your customers with the opportunity to comment on your business. This can happen through social media, email survey or even directly on your website. When they feel that their business is appreciated, they'll come back for more.

They want contact.

Like it or not, we're living in a 24/7/365 type of society. Our news is around the clock. Same for our TV watching. Many big grocery and convenience stores are open 24 hours. The same can be said for gas stations, diners and doughnut shops. In other words, we're getting used to getting what we want whenever we want it. Your business needs to make the effort to appeal to that same desire of immediate satisfaction. This doesn't mean you need to keep your doors open around the clock. However, having a voice mail system where a customer can leave a message will go a long way towards providing that feeling of being open 24/7.

They want consistency.

It's difficult to image a business that won't have some level of staff turnaround. From a customer's perspective, they might have grown accustomed to working with a specific salesperson or staff member. They've built up a relationship. That's important for a loyal customer. When a change in staff occurs, try to reach out to your loyal customers and let them know what is going on and assure them they're needs will continue to be met. 

3 Lessons Every New Manager Needs to Learn

There is a first time for everything. Your first bike ride. Your first report card. Your first car. Your first time

as manager.

For those first three, you probably had a lot of help from a parent, a teacher or an instructor. When it comes to taking over the reins of management, you probably learned as much from the bad managers as with the good managers you've had to work with.

Hopefully, those lessons will prove valuable as you move into this next chapter of your career. After unpacking your office and making sure they spelled your name right on the door, you'll want to consider these top three lessons every new manager needs to learn:

Not Every Employee Will Stick Around

As a manager you are taking responsibility for your team. You want them all to shine and live up to their potential. But guess what? For some they may decide that they will grow better at another company. There is nothing wrong with hiring personnel that you know might only stick around for a few years.

As long as they get the job done, they don't have to aspire to the lofty heights of the corporate tower. This means that you should embrace employee turnover. Mixing up the staff can be a good thing and keep everyone on their toes. However, for those team members who do excel you want to keep them around. It doesn't make sense to get rid of your heavy hitters.

Be the Boss in the Decision Making Process

A good manager will listen to their staff. Keeping those lines of communication open is vital to maintaining a productive work atmosphere. Yet, when it is time to make a final decision you need to become the ultimate "decider." It won't be uncommon for you to look around your conference room and find that the majority of your staff disagrees with a particular decision. If the workplace was a democracy this would matter. It's not and that's why you have to step up and pull the trigger on the decision. Sink or swim, this is what a manager does.

Be Friendly but Don't Be a Friend

Many companies are proud to boast that their workers are like one big family. While it is true that this can create big returns in terms of productivity it can also become a major hindrance. If tough choices have to be made about the direction of your company you're going to have an extremely hard time letting down "your family."

This doesn't mean you can't be friendly with your staff. In fact, you should. However, there is a vast difference between going out for the occasional lunch or happy hour and becoming so immersed with all the ups and downs of their private lives. It's always best to keep it professional. 

Should You Hire for Experience or Personality?

If all hiring was conducted strictly by reviewing resumes it would be very easy to make the best staff picks. You can quickly size up a potential employee's education and real world job experience by scanning their CV.

However, that won't necessarily provide you with the full portrait of that worker. That's why the in-person interview is a vital step in the hiring process. It's through the one-on-one interview that you can access the individual's personality and whether or not they'll be a "good fit" for your company.

All of this begs the question: Should you hire for experience or personality?

Building a Better Staff

If an employee doesn't have a specific skill set they can always be trained. That approach works best when the skills required have more to do with operating equipment or computer programs. When the requirement is something like sales or marketing, those skills might be harder to come by because they are personality based. Building a strong staff for your company means assessing your specific needs beyond the "I want to work with good people" idea.

A valuable employee needs to be equal parts dependable and a team player. The majority of folks who quit a job do so because they can't get along with a co-worker.

Is it their fault or the fault of the co-worker? How much of a role does personality play into that type of decision?

There is no guarantee that everyone you hire is going to get along and become the best of friends. They just have to work well together. However, there might be a slight edge when it comes to hiring personality over experience.

Putting Personality First

There are a few reasons why hiring an employee for their personality might be a benefit for your company. A staff member that gets along with others could mean they'll be sticking around.

A lower employee turnover rate helps increase productivity. If you don't have to take time out to retrain workers than you'll be able to focus on the tasks at hand. This idea of a productive team comes into play when there is room for advancement. Allowing for promotions within your company keeps the "family together."

The goal is to stick with the good hires and toss out the bad hires.

Every new hire means you're making an investment in that employee. Do you want your return on that investment to come back in the form of a good team member or someone who causes friction?

A person with an abrasive personality can still get the job done, but at what cost to company morale? You also have to consider your company's relationship with your clients and customers. Simply put, do you want the face of your company to be smiling or frowning? 

How to Manage your Independent Contractors

Every day more workers are joining the ranks of the independent contractor. As someone who is considering tapping into this potential workforce you want to make sure that freelancer is going to get the job done right. Here’s what you need to do to make sure you’re getting the work you’ve contracted for.

1.      Make the Interview Call

A lot of freelance work can be conducted exclusively via the internet. This means you can search, hire and accept work all through email. However, to make sure the independent contractor you’re considering is reliable, reach out for a quick telephone interview. You can put forth your expectations and find out more about the candidate over the phone then you could with an email exchange.

2.      Write an Employee Contract

If you expect nothing then you’ll never get disappointed. However, if you want a freelancer to achieve certain goals then put them in a contract. There should be no question as to your expectations of their performance, their compensation and what measures it would take to terminate the contract. Start out by being on the same page.

3.      Set Specific Deadlines

Every project should have a delivery date. Your freelancer should be well aware of those dates and be able to deliver on time. What they don’t need to know is if the deadlines you’re providing are the actual deadlines. There is nothing wrong with a little padding on your side! That way you can make any corrections or fill in the gaps if that contractor doesn’t deliver. And all the deadlines should be in writing.

4.      Don’t Micromanage

With every new type of employee there will be a learning curve. You’ll want to make sure they understand the assignment and that they are delivering on time and on budget. In the beginning of a new working relationship, you might feel the need to check in on the progress. Nothing wrong with that. But once that contractor has proven they can deliver, let them do the work. No need to keep poking them for progress.

5.      Make Yourself Available For Clarification

It goes without saying that your employee can ask you for clarification about an aspect of a project. The key is to make sure you’re responding to their query in a timely manner. You don’t want them to stop the work while waiting a day for your answer. This could prove to be a challenge if you’re managing someone in a different time zone. Keep checking your email when you’ve got a deadline approaching.

6.      Reserve the Right to Terminate

If you reach the point that a freelancer isn’t living up to their end of the contract, then you’re well within your rights to terminate the agreement and move on. There are too many talented folks out there who can deliver exactly what you’re looking for without the hassle.